real estate budget
In the upcoming Union Budget 2022-23, real estate developers are seeking an increase in the limit of home loan interest deduction for tax rebate to ₹5 lakh from current ceiling of ₹2 lakh, a review of definition of affordable housing, lower long-term capital gains tax for real estate and new provisioning for rental housing. Realty developers’ body CREDAI has written to the Finance Ministry to suggest exemption in tax to investments in Real Estate Investment Trusts (REITs) starting with ₹50,000 and to allow tax-neutral consolidation of businesses through merger or amalgamation to push rescue of stalled housing projects helping troubled homebuyers.

“We expect the upcoming budget to provide the much-needed impetus to infrastructural development, and housing by introducing various amendments, relaxations & extensions which will be helpful for realizing the Prime Minister’s dream of Housing for All and faster economic recovery,” said President, CREDAI, Harshvardhan Patodia.

Deepak Goradia, President, MCHI, said, “We are hopeful that the upcoming budget will bring realty under the infrastructure status which in turn will unlock multiple tax benefits to boost foreign and local investment and the overall demand in the sector. Amendments in the definition of affordable housing in terms of counting the ticket size of the apartment instead of area, new provisions for encouraging rental housing, single-window clearances, input tax GST credit for developers are some key reforms that need to be considered for expediting economic recovery.”
The Maharashtra government has cleared 30 integrated townships, with 8 of them in the Pune Metropolitan Region, and 12 in the construction stage. The government has also relaxed the landholding norms by amending the Maharashtra

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Gurgaon-based real estate developer JMS Buildtech has acquired scores of land parcels worth ₹400 crore to develop residential projects under the Deen Dayal Jan Awas Yojana (DDJAY) of Haryana government. In addition, the company will also develop

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Aparna Constructions and Estates has announced 83.23 acres plotted development project – Aparna Dharti at Dundigal in Hyderabad

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The Ahmedabad-based real-estate player Shilp Group has announced the launch of 585- unit residential project at GIFT City in Gandhinagar. Founder and CEO

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The Indore Development Authority (IDA) has secured approvals from the town and country planning (T&CP) department to launch its four new schemes

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Godrej Properties has announced a new project in Nagapur for which it has already acquired a 58-acre land parcel to develop a residential complex

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County Group has announced the launch of its ambitious mixed-use commercial project, County Courtyard, at Netaji Subhash Place, Pitampura, in North

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Ashiana Housing has signed an MoU with the Rajasthan government to invest ₹420 crore for developing residential housing projects in Bhiwadi

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Godrej Properties has extended its existing arrangements with Mumbai-based property developer Shivam Realty to develop a residential group

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Merlin Group has launched ₹200 crore skyscrapers in Sector V, Salt Lake, the IT hub of the metropolis in Kolkata. The new commercial hub - The Summit

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The US-based real estate player Hines has tied up with DNR group to develop a premium commercial project in Bengaluru comprising two million

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The largest re-developer of cessed buildings in the megapolis is all set to launch its biggest project in the northern suburb of Borivali on a six-acre

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The Gurgaon-based real estate developer, SS Group has planned to develop 4.15 million sq ft of low-rise floors, residential societies and commercial

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According to ICRA, the outlook of commercial real estate, both the office segment and the retail mall segment is going to be stable for 2022-2023

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Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has launched the country’s first net

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Real estate building major Kalpataru has decided to build a commercial project spreading across an area of 6 lakh sq ft in Mumbai. The project will be

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Real estate developer Alliance Group has planned to launch projects spanning across25 million sq ft across Bengaluru, Chennai and Hyderabad in the

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Tata group's real estate arm Tata Housing has planned to invest ₹1,200 crore over the next two years to acquire land outright and through joint

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Bharti Enterprises and Brookfield have entered into a joint venture for four commercial projects spreading across 3.3 million square feet at an

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Haryana government has decided to build a global city on an area of 1,000 acres in Gurugram. CM Manohar Lal Khattar informed that Gurugram has

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